The Memphis appeal. [volume] (Memphis, Tenn.) 1886-1890, 1887-09-01

messed In october. What may take
place after October will depend upon
developments of the new crop. In
the meantime-that is, during the
coming eight or ten weeks-Europe
will have much less American cotton
to handle than she had in the cor.
responding period last year; while
the rate OF consumption will be much
larger. Short time in Lancashire
has been abandoned, aud the autumn
holidays will be less closely observed
than in previous years, owing to the
fact that the operatives have already
lost considerable amount of wages.
Under such circumstances the spot
demand for cotton will continue good
unless prices advance to such figure
as shall again compel spinners to cut
down the rate of consumption. y
Up to the present there is no reason
to look for more than 1000, 900 bales,
or about tho same as FIVE seasons ago.
The present crop is about GAZE, 600.
About 10000 bales will be taken out
OF the port stocks, so that $500, 900
will be distributed. Besdes this, the
stocks in the hands OF American spin
ners will be reduced 100 900 bales. 20
that 6 1920, 600 will be consumed-say
4,45O,0OO in Europe and 2,17O, 900 in
America, including Canada and Mex
leo. III America takes back the 120, 900
reduction in mill stocks and $4,000
in port stocks end consumes only
2,250, 900, against 2,170O00 this sea.
son, there will be required on the
other side of the Atlantic 2,4i5 900
bales. Europe will certainly want
100000 to 10000 bales more than
last season, so that a crop OF 1000
600 will be very easily absorbed, es-
peclslly as the prospects OF trade are
good everywhere. We say nothing
ofprices, except there is no more
justification now than there was
twelve months ago for the ridicu.
Loudly low figures which some people
profess TO expect before the end of
the year. Present prices are quite
moderate enough and the preaching
Of heavy decline greatly Injuries
business. There is no present justi- |
hcation for an important advance |
any more than there is for material
decline; and wide fluctuations.
though they may suit Spectators,
are very harrassing to legitimate |
trade"
The principal feature OF the Mem !
phis market during the season was
heavy receipts. During the entire
Of last season Memphis handled |
5i5, boo bales, OF the value of $23,-
623, 507, while this season, up 10 the |
3lst day Of August, 663277 bales
we're received, an increase over the
entire OF last season, 1856, of
1l7,1ll bales; the total value being
$50, 1919 800, an increase over last
year Of S6,476 SOB. The increase of
last season over the season OF 1884,
So was ll5,439 bales. The largest
weekly sales we're for the week end
ing November 18th, the sales being
1900 bales.
When cotton advanced in June
and July, and when the staple was
being manipulated in the New York
market-duriug these months Mem
phis factors could not sell their cot
ton at the advance, buyers being
afraid 10 touch il owing to the New
York deal, aud we had a store of cot
ton on hand ranging from COCO 10
10000 bales. Since then the cot
ton has been worked of at lower
prices, leaving the stock on hand re-
markably small.
There was another feature which
showed Memphis 10 be the best cot.
ton marketin the Mississippi Valley.
During the season cotton con ,igned
to Memphis realized the producers
Tar more money than IL would have
realized at either St. Louis or New
Orleans, Memphis spots being quoted
for weeks TO above the 81. Louis quo.
tations and ac above those Of New
Orleans. II must not be forgotten
that Memphis Is the largest inland
cotton market OF the world and the
second largest spot cotton market in
the United States, New Orleans
ranking first. Cotton has made Mem
phis what il is. one Of the phenome.
nally great commercial cities Of the
country. Situated on the border
line OF three great States-Tennes-
sec, Arkansas and Mississippi-and
It's trade extending not only through
out these States, but also 20 portions
OF Alabama, Louisiana, Texas and
Missouri, il presents superior advan-
tages as a market, her net work of {
nine railroads giving her immense :
facilities for business. Within the {
circle geographically tributary 10 her !
trade, over 2,000. 900 bales Of cotton a
are grown, her location being in the ]
very center oftho cotton belt. During '
the season Of lSS7-S5 Memphis will )
receive a. least So. 900 bales Of cot
ton, aud will 70 on increasing her re-
ceipts yearly until she stands az tho }
head Of the let OF the spot cotton q
Of the world. =
Her cotton merchants arc enter a
prising aud liberal, thoroughly un.. a
ierstand the business, and arc iamil- G
lar with the markets Of this country !
aud Of Che world. 10 this market i
buyers from our Eastern mills, from i
England and from tho continent Of 5
Europe are attracted annually. There q
are some forty firms OF buyers and
some sixty firms OF factors. OF the buy |
ers about twenty-three purchase for {
foreign account aud some seventeen o
Tor the Eastern spinners, aud then I
here are many firms who buy both {
Tor home and foreign account. 8
The Bluff Civ possesses unuual n
ADVANTAGES for handling cotton, and I
4 rates unknown 10 other cities, 2
hereby giving her a wonderful ad- il
vantage over her rivals-advantago
which conduces 10 the benefit Of 3
producers. The expenses incident 4
o handling cotton at New Orleans $
Turing the present and past seasons r
rave materially injured the cotton ]
business Of the Crescent City, aud d
I